CCM implements review of Cooperatives Act to spur sector

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Datuk Lamien Sawiyo

Datuk Lamien Sawiyo

MELAKA: The Cooperative Commission of Malaysia (CCM) is the early stages of reviewing the Cooperatives Act 1993 to assist the cooperative sector progress faster and effectively compete in the future.

Executive chairman Datuk Lamien Sawiyo said the review will involve existing rules and laws being upgraded to meet current needs of the country’s cooperative sector.

“We do not want rules and laws that are no longer suitable for the current times. We will remove what is no longer relevant and strengthen what is necessary.

“The review of the Act will also take into consideration the research undertaken by the CCM on cooperative developments in other countries and incorporate what is relevant to strengthen the country’s cooperative sector,” he told Bernama here.

Elaborating further, he said the review of the Act was still at a preliminary stage and is expected to be fully completed by year-end.

Meanwhile, Lamien said the CCM was now in the final stage of drawing up two cooperative blueprints for wholesale and retail, as well as, agriculture and agro-based industry, to be launched either this month or in March.

He said the CCM was focusing on these sectors as they are seen as being capable of assisting in helping reduce the cost of living as well as enhancing national revenue.

“The cooperative sector continues to play an important role now in complementing efforts by the government to reduce the cost of living of the people,” he added.

He said blueprints for the real estate, plantations, finance and tourism sectors will be introduced in stages to encourage more cooperatives in the country to become involved in business and bring down the cost of living. — Bernama